21.01.2015 - ​Technical view

The price of EUR/USD continues to consolidate near the level of 1.6000. Currently the price approaches the upper boundary of the downward channel, which can lead to acceleration of the price fall. In such case, the quotations will reach the level of 1.1500, and may continue to decline to 1.1200. Breaking through the upper boundary of the channel and consolidation above 0.1620 will become the basis for further growth with the target at 1.1750. We expect increased volatility tomorrow and keep medium-term negative outlook for the euro.

Nearest resistance levels: 1.1620, 1.1750, 1.1800, 1.1860, 1.2000, 1.2165, 1.2250, 1.2360

Nearest support levels: 1.1500, 1.1200, 1.1000

The price of GBP/USD yesterday tried to break through the strong resistance level at 1.5200, but could not do it and started to correct. At the moment, we see the resumption of growth after fixing beyond the local downward channel. In case of further growth and breaking through the level of 1.5200, we expect continued upward movement up to 1.5260 and 1.5300. Today is expected the increase in price volatility. Fall is limited by the psychologically important level of 1.5000. We maintain our medium-term negative view, but we can see the growth price in the near future.

Nearest resistance levels: 1.5200, 1.5260, 1.5500, 1.5750, 1.5800, 1.5960, 1.6000

Nearest support levels: 1.5000, 1.4700

The price of USD/JPY started to fall sharply before reached the level of resistance at 119.00. At the moment, quotes approached the important support level at 117.40. In case of breaking the line, the fall will continue to level of 116.00. To continue the growth of prices is necessary to overcome the level of 119.00. We maintain our positive outlook for the medium-term, but is expected to continue short-term decline.

Nearest resistance levels: 119.00, 120.00, 120.75, 122.00, 125.00

Nearest support levels: 117.40, 116.00, 115.00, 114.00, 113.00, 112.00, 110.00

The price of AUD/USD has started growing again after reaching the level of 0.8150. A further increase in price is limited by the resistance level at 0.8250 in case of breaking through which, the price may continue to rise to 0.8360. According to our estimates, the price decline will resume after reaching the level of 0.8250. Our medium-term outlook remains negative, but the downside potential is significantly reduced.

Nearest resistance levels: 0.8250, 0.8360, 0.8550, 0.8700, 0.8800, 0.8900, 0.9000

Nearest support levels: 0.8200, 0.8040, 0.8000, 0.7600, 0.7500

The price of NZD/USD reached the target level of 0.7620 and rebounded from it. At the moment, the price shows a steady growth within the correction and will likely continue to rise to 0.7700. To continue the downward movement with the first goal at 0.7500, the price needs to gain a foothold below the level of 0.7620. We maintain our medium-term forecast, but assume continued growth to the upper boundary of the corridor 0,7620-0,7850.

Nearest resistance levels: 0.7700, 0.7800, 0.7850, 0.7900, 0.8000, 0.8050, 0.8270

Nearest support levels: 0.7620, 0.7500, 0.7300

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